Types of Insurance
The risk is an uncertainty that can not be known to man that can cause harm or damage, even death.
Insurance is a management system between the individual and the insurance company that protects the individual against this risk. In the US, insurance plays a big role in the financial management plan. Almost one in twelve dollars in the United States economy is spent on insurance (Goldsmith, 2001).
The importance of insurance is to assist individuals in reducing financial losses due to the risk or accident. This greatly helps a person prepare unexpected events.
The principle of insurance purpose is to help individuals limit their financial losses when an accident occurs. Yes, it can helps someone to be prepared for the something unexpected. To purchase insurance, costumers purchase a policy that is a contract between the costumers and the insurer specifying the terms of the insurance arrangements. This policy will state the premium and deductible amounts. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins. The amount of a premium or a deductible for every costumers will vary depending on the type of insurance and the terms of the policy
The following is type of insurance can be purchase by who need insurance.
- Alien Abduction Insurance
- Assumption Reinsurance
- Aviation Insurance
- Bancassurance
- Boiler Insurance
- Bond Insurance
- Builder's Risk Insurance
- Business Interruption Insurance
- Business Overhead Expense Disability Insurance
- Casualty Insurance
- Catastrophe Bond
- Chargeback Insurance
- Collateral Protection Insurance
- Computer Insurance
- Condo Insurance
- Contents Insurance
- Credit Insurance
- Crime Insurance
- Critical Illness Insurance
- Cyber-Insurance
- Death Bond
- Deposit Insurance
- Directors And Officers Liability Insurance
- Divorce Insurance
- Dual Trigger Insurance
- Earthquake Insurance
- Expatriate Insurance
- Fidelity Bond
- Financial Reinsurance
- Flood Insurance
- Gap Insurance
- General Insurance
- German Statutory Accident Insurance
- Group Insurance
- Guaranteed Asset Protection Insurance
- Health Insurance
- Home Insurance
- Income Protection Insurance
- Inland Marine Insurance
- Interest Rate Insurance
- Key Person Insurance
- Kidnap And Ransom Insurance
- Labor Insurance (Japan)
- Landlords' Insurance
- Legal Expenses Insurance
- Liability Insurance
- Life Insurance
- Longevity Insurance
- Microinsurance
- Multiple-Peril Insurance
- Mutual Insurance
- Niche Insurance
- No-Fault Insurance
- Over-Redemption Insurance
- Owner-Controlled Insurance Program
- Parametric Insurance
- Payment Protection Insurance
- Peer-To-Peer Insurance
- Penis Insurance
- Pension Insurance Contract
- Pension Term Assurance
- Perpetual Insurance
- Pet Insurance
- Political Risk Insurance
- Pollution Insurance
- Prize Indemnity Insurance
- Property Insurance
- Reinsurance
- Rent Guarantee Insurance
- Renters' Insurance
- Retrospectively Rated Insurance
- Satellite Insurance
- Shipping Insurance
- Stop-Loss Insurance
- Takaful
- Tenancy Deposit Scheme (England And Wales)
- Tenancy Deposit Schemes (Scotland)
- Terminal Illness Insurance
- Terrorism Insurance
- Total Permanent Disability Insurance
- Trade Credit Insurance
- Travel Insurance
- Tuition Insurance
- Ucc Insurance
- Uninsured Employer
- Vehicle Insurance
- Wage Insurance
- War Risk Insurance
- Weather Insurance
- Workers' Accident Compensation Insurance (Japan)
- Workers' Compensation
- Worker's Compensation (Germany)
- Workers' Compensation Employer Defense
- Zombie Fund
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